By Ira Breskin - NEW YORK –The local Coast Guard unit now is implementing critical lessons learned from a recently completed turbocharged cybersecurity review. That’s the message delivered by two-sector New York Coast Guard officers to more than 100 attendees at the 13th annual Marine Insurance Day hosted here earlier this month by the American Institute of Marine … [Read more...]
Business of Shipping: Improved Infrastructure Leads to Upswing at Port of New York and New Jersey
By Ira Breskin - The Port of New York and New Jersey is enjoying an upswing. That’s the message speakers delivered at the recent 19th annual Port Industry Day. This day-long schmooze fest attracts several hundred attendees who represent a cross-section of this port community. Encouraging was news that marine terminals leased by landlord Port Authority of New York and New … [Read more...]
Business of Shipping: Trade Dispute Helps Lift Volumes at Ontario’s Port of Thunder Bay
By Ira Breskin THUNDER BAY, ONTARIO-- The deepwater port here will modestly increase volume this year by offering shippers attractive transit options for international cargo displaced by trade disputes. “With disruptive trade patterns, we win because the lack of alternatives,” said Tim Heney, the port’s chief executive, during a recent interview. In 2019, Thunder Bay … [Read more...]
Business of Shipping: Simple Rules for Attracting Investors for Public Shipping Firms
By Ira Breskin - Veteran investment banker Brian Friedman, president, Jefferies Financial Group, recently explained the simple rules executives of publicly traded shipping firms should heed to attract and retain fickle Wall Street investors’ attention. His ground rules are brutal in their simplicity. First, market leaders must have scale, Friedman said. That means shipping … [Read more...]
Business of Shipping: Smooth Sailing Ahead for Jones Act Operators
By Ira Breskin (Business of Shipping) - It should be smooth sailing for the foreseeable future for operators of large Jones Act vessels, speakers said last week at the 32nd annual Marine Money Conference in New York. The placid market forecast assumes that the supply-demand balance will remain largely intact. That’s because there is a paucity of new tonnage---either being … [Read more...]